Bybit increases commissions for clients from Russia and CIS countries

Bybit increases commissions for clients from Russia and CIS countries

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by Max Nevskyi

3 years ago

The cryptocurrency exchange Bybit has announced an increase in commission fees for users from Russia and CIS countries, starting from March 7, 2024. This change will affect trading of perpetual and futures contracts, where commission rates will be raised. For regular users without Pro status, trading fees will increase from 0.0200% to 0.0360%, while taker fees will rise from 0.0550% to 0.1000%. However, for VIP clients with VIP4 status and above, a reduction in taker fees is provided.

The changes will affect residents of Russia, Kyrgyzstan, Armenia, Ukraine, Tajikistan, Turkmenistan, Azerbaijan, the Republic of Moldova, Belarus, and Georgia. The determination of a user's region will be based on documents provided during Know Your Customer (KYC) verification, taking into account the highest level of verification.

The full implementation of all changes is scheduled for March 11, 2024. At the time of publication of the article, the BeInCrypto editorial team was awaiting comments from Bybit representatives and promised to keep readers updated on the latest news regarding this matter.

This decision by Bybit reflects the changing dynamics in the cryptocurrency trading sphere, where exchanges are adapting their commission structures in response to various economic and regulatory conditions in different regions.

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